Dogecoin surges 20% after Elon Musk hints Tesla could accept Doge


Dogecoin (DOGE/.USD) has jumped by around 20% to $0.54 in a swift move Elon Musk, founder of Tesla and SpaceX tweeted a poll asking if his company should accept this cryptocurrency as a means of payment. It seems to have ended its consolidation.

The asset traded at around 0.444 earlier in the day, making the upswing even more dramatic. 

 

The celebrity appeared on Saturday Night Live and mentioned Doge in the opening sketch, offering it as a gift to his mother. However, when asked if this canine-themed digital asset is a hustle, Musk agreed. That resulted in a double-digit plunge for DOGE/USD over the weekend. However, he later announced this other company, SpaceX, would send a rocket called Doge-1 to the moon. Doge recovered. 

Other cryptocurrencies have also benefited from the interest in Doge. 

More SHIB price skyrockets as Binance Lists Dogecoin rival Shiba Inu

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

SafeMoon retraces in preparation for 16% jump

SafeMoon price broke out of its range-bound movement as it bounced off a critical demand barrier. Moreover, SAFEMOON has also risen above the midway point of its consolidation, indicating a willingness to ascend. 

More SafeMoon News

This crucial level will determine whether Ethereum Classic price can resume its uptrend

Ethereum Classic price seems to be range-bound. While its correlation with Bitcoin dries up, ETC awaits a spike in volume. Only a daily candlestick close above the 50-day MA will help this crypto rise.

More Ethereum Classic News

Ripple to set the stage for 18% gains

XRP price formed the second peak on June 14, indicating the formation of a double top. As a result, Ripple is starting to decline, heading toward an immediate support level.

More Ripple News

Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. A spike in selling pressure could send Shiba Inu drop to $0.0000050. Only a 4-hour candlestick close above $0.0000080 could save the memecoin. 

More Shiba News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP